Property overview

Franck Steier Price has recently completed the sale of a prominent trade park on the edge of Witney town centre next to B&Q on behalf of CBRE Global Investors.

The park comprised four units arranged in two blocks extending to 11,887 sq.ft.  The estate is full let to three tenants producing a total income of £77,385 per annum, with rents ranging from £5.63 – 7.10 per sqft. The investment had a WAULT to expiry of 10.8 years and to breaks 6.7 years.

The purchase price of £1,125,000 reflected a net initial yield of 6.5% after purchaser’s costs of 5.80%.

The park was purchased by Hansteen for the UK Industrial Property II Fund.